BCOR 360

Which of the following is true of mobile marketing?

Marketers use mobile channels to stimulate immediate buying.

________ are the form human needs take as they are shaped by culture and individual personality.

Wants

GT Grand, a manufacturer of ultra-luxury cars, supplies customized vehicles based on the specific demands of customers in affluent market segments. The company's approach is most likely referred to as ________.

target marketing

Selecting particular segments of a population of customers to serve is called ________.

target marketing

Customer evangelists are those who ________.

tell others about their good experiences with a brand or product

Customers who are classified as true believers ________.

tell others about their good experiences with a company

Which of the following transforms marketing strategies into real values for consumers?

the four Ps of marketing

Which of the following concepts is based on a customer-centered philosophy?

the marketing concept

Dividing a market into several sections of customers is known as ________.

market segmentation

Which of the following concepts holds that consumers will favor products that are available and highly affordable?

the production concept

A customer who is both loyal and profitable is referred to as a ________.

true believer

According to the five-step model of the marketing process, the first step in marketing is ________.

understanding the marketplace and customer needs and wants

The selling concept is typically practiced with ________.

unsought goods

________ refers to a channel stretching from raw materials to components to final products that are carried to final buyers.

A supply chain

________ is the total combined customer lifetime values of all the company's current and potential customers.

Customer equity

________ is the act of obtaining a desired object from someone by offering something in return.

Exchange

________ are defined as states of felt deprivation.

Needs

Which of the following is a difference between the marketing concept and the selling concept?

The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products.

The societal marketing concept holds that ________.

a company's marketing decisions should focus on creating economic value in a way that also creates value for the surrounding environment

The overall process of dealing with all aspects of acquiring, keeping, and growing customers is referred to as ________.

customer relationship management

The final step in the marketing process is ________.

capturing value from customers

Customer-driven marketing is most effective when ________.

clear needs exist and customers know what their needs are

The Niketown running community organizes bimonthly athletic training programs for Nike buyers. This is an example of a ________.

club marketing program

The selling concept holds that ________.

consumers will not buy enough of a firm's products unless the firm undertakes large-scale persuasion and promotion efforts

Marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on ________.

consumers' existing wants The Railroad was an example company

Directing consumers toward products and services that meet their present and future needs is referred to as ________ marketing.

customer-driving

When customers don't know what they want or don't even know what's possible, the most effective strategy is ________ marketing.

customer-driving

Which of the following terms refers to a customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers?

customer-perceived value

Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a(n) ________.

demand

When backed by buying power, needs become ________.

demands

According to the product concept, a company should ________.

devote its energy to making continuous product improvements

The ultimate aim of customer relationship management is to ________.

produce high customer equity

The ________ concept holds that consumers will favor goods and services that offer the most in quality, performance, and innovative features.

product

Voize, a leading mobile phone manufacturer, focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices. Voize most likely follows the ________.

production concept

A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy their needs.

value proposition